```
REGISTERED COMPANY NUMBER: 04333000 (England and Wales)
REGISTERED CHARITY NUMBER: 1147469
```
```
Report of the Trustees and
Financial Statements for the Year Ended 31 March 2022
for
North Huyton Communities Future
```
```
Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
```
```
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ
```
```
North Huyton Communities Future
```
## `Contents of the Financial Statements for the Year Ended 31 March 2022`
|||`Page`||
|---|---|---|---|
|`Report of the Trustees`|`1`|`to`|`3`|
|`Report of the Independent Auditors`|`4`|`to`|`5`|
|`Statement of Financial Activities`||`6`||
|`Balance Sheet`||`7`||
|`Cash Flow Statement`||`8`||
|`Notes to the Cash Flow Statement`||`9`||
|`Notes to the Financial Statements`|`10`|`to`|`18`|
|`Detailed Statement of Financial Activities`||`19`||
```
North Huyton Communities Future
```
```
for the Year Ended 31 March 2022
```
## `Report of the Trustees`
```
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreportwith the
financialstatementsofthecharityfortheyearended31March2022.Thetrusteeshaveadoptedtheprovisionsof Accounting
andReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
```
Theobjectivesoftheorganisationarebasedaroundcontinuingandsustainingtheregenerationprogrammebegununder the
area's New Deal for Communities programme.
```
```
Thisworkincludesprojectmanagementofthemajorhousingregenerationprogramme,distributionofasmall grants
programme,managementoftwocommunitycentres,supportoftwocommunity-baseddeliveryorganisations,ownership and
managementofa smallresidentialpropertyportfoliothathouseshouseholdsmostlynominatedbyKnowsley'sHousing Options
Service.
```
## **`ACHIEVEMENT AND PERFORMANCE`**
```
NHCFhascontinuedtosupportcommunitydevelopmentintheNorthHuytonareathroughitsfundingofitshighly successful
Small Change Grants Programme.
```
```
In2021/22overthirtylocalcommunitygroupsweresupportedthroughthislong-establishedprogrammewhichis administered
through a resident led panel.
```
```
Inaddition,thecompanycontinuedtosupporttwokeycommunitygroups,HIYAandL14,whosecommunityand youth-based
programmes are targeted in specific areas of North Huyton.
```
```
HIYAoperatesoutofoneofNHCF'stwocommunitybuildings,theHillsideNeighbourhoodCentre,whileL14isbasedin the
other, the GATE Community Centre.
```
```
BothofthesebuildingshavebeenmanagedthroughNHCF,whocontinuetoofferusageofthecentrefreetolocal community
groups and subsequently host a multitude of groups and events.
```
```
The company owns and lets out twelve properties in the area, which is helping to sustain the company long term.
```
```
NHCFcontinuestoprojectmanagetheRevivehousingdevelopmentprogrammeandhasoverseenanothersignificantrise in
properties built and sold this year.
```
## **`FINANCIAL REVIEW`**
```
The organisation continues to be retained as the project managers of the Revive scheme for which it receives an annual fee.
```
```
However, its main income stream over the last 10 years has been from its returns on land sold through the Revive programme.
```
```
ThecompanyhasworkedwithPartnerstorealisethelandreceiptofoneofthelasttworemaininglandphaseswhichwill help
sustainthecompanyintothefuturewiththefinalphaseduetobereleasedin2023/24.Theorganisationhas enacted
significantlycostsreductionsinpreviousyearswhichwillenabletheorganisationtofullysupportthegrantsand centre
expenditure which is where the company's focus will be over the next few years.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
Thecharityiscontrolledby itsgoverningdocument,a deedoftrust,andconstitutesa limitedcompany,limitedby guarantee, as
defined by the Companies Act 2006.
```
```
NHCFisa companylimitedbyguaranteeanda registeredcharity.Theorganisationisrunthrougha Boardofninemembers, six
of which are local nominated residents that represent the six sub estates that make up the designated area in which it operates.
```
```
TheothermembersincludetwolocalcouncillorswhoarenominatedfromKnowsleyMetropolitanBoroughCounciland a
representativefromthearea'sNeighbourhoodNetwork.Theresidentrepresentativesareputforwardviathe corresponding
area residents association. The other members are selected from their respective organisations.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Registered Company number`**
```
04333000 (England and Wales)
```
```
Page 1
```
```
North Huyton Communities Future
```
```
Report of the Trustees
for the Year Ended 31 March 2022
```
## **`Registered Charity number`**
```
1147469
```
## **`Registered office`**
```
The Gate
600 Princess Drive
Huyton
Knowsley
L14 9NQ
```
## **`Trustees`**
```
P G Lankertis
A C Mason
K W McGlashan
D G Storey
B M Thompson
F McCann
M O'Mara MBE (resigned 31.3.22)
```
## **`Auditors`**
```
Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ
```
## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES`**
```
Thetrustees(whoare alsothedirectorsofNorthHuytonCommunitiesFutureforthepurposesofcompanylaw)are responsible
forpreparingtheReportoftheTrusteesandthefinancialstatementsinaccordancewithapplicablelawandUnited Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
```
```
Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyearwhichgivea trueandfairviewof the
stateofaffairsofthecharitablecompanyandoftheincomingresourcesandapplicationofresources,includingtheincome and
expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
```
- `select suitable accounting policies and then apply them consistently;`
- `observe the methods and principles in the Charity SORP;`
- `make judgements and estimates that are reasonable and prudent;`
- `prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.`
```
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatanytime the
financialpositionofthecharitablecompanyandtoenablethemtoensurethatthefinancialstatementscomplywith the
CompaniesAct2006.Theyarealsoresponsibleforsafeguardingtheassetsofthecharitablecompanyandhencefor taking
reasonable steps for the prevention and detection of fraud and other irregularities.
```
```
In so far as the trustees are aware:
```
- `there is no relevant audit information of which the charitable company's auditors are unaware; and`
- `the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.`
## **`AUDITORS`**
```
The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.
```
```
Page 2
```
```
North Huyton Communities Future
```
## `Report of the Trustees`
## `for the Year Ended 31 March 2022`
```
ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompaniesAct2006relatingto small
companies.
```
```
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
```
```
...........................................................................
K W McGlashan - Trustee
```
```
Page 3
```
```
Report of the Independent Auditors to the Members of
North Huyton Communities Future
```
## **`Opinion`**
```
WehaveauditedthefinancialstatementsofNorthHuytonCommunitiesFuture(the'charitablecompany')fortheyear ended
31March2022whichcomprisetheStatementofFinancialActivities,theBalanceSheet,theCashFlowStatementandnotes to
thefinancialstatements,includinga summaryof significantaccountingpolicies.Thefinancialreportingframeworkthathas been
appliedintheirpreparationisapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerally Accepted
Accounting Practice).
```
```
In our opinion the financial statements:
```
- `give a true and fair view of the state of the charitable company's affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;`
- `have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and`
- `have been prepared in accordance with the requirements of the Companies Act 2006.`
## **`Basis for opinion`**
```
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicablelaw. Our
responsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditofthe financial
statementssectionofourreport.Weareindependentofthecharitablecompanyinaccordancewiththeethical requirements
thatare relevantto our auditof thefinancialstatementsin theUK, includingtheFRC'sEthicalStandard,and we havefulfilled our
otherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidencewehaveobtained is
sufficient and appropriate to provide a basis for our opinion.
```
## **`Conclusions relating to going concern`**
```
Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasisofaccountingin the
preparation of the financial statements is appropriate.
```
```
Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoeventsorconditions that,
individuallyorcollectively,maycastsignificantdoubtonthecharitablecompany'sabilitytocontinueasagoingconcernfor a
period of at least twelve months from when the financial statements are authorised for issue.
```
```
Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedintherelevant sections
of this report.
```
## **`Other information`**
```
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincludedinthe Annual
Report, other than the financial statements and our Report of the Independent Auditors thereon.
```
```
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextentotherwise explicitly
stated in our report, we do not express any form of assurance conclusion thereon.
```
```
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,indoing so,
considerwhethertheotherinformationis materiallyinconsistentwiththefinancialstatementsor our knowledgeobtainedin the
auditorotherwiseappearstobemateriallymisstated.Ifweidentifysuchmaterialinconsistenciesorapparent material
misstatements,wearerequiredtodeterminewhetherthisgivesrisetoamaterialmisstatementinthefinancial statements
themselves.If,basedontheworkwehaveperformed,weconcludethatthereisamaterialmisstatementofthis other
information, we are required to report that fact. We have nothing to report in this regard.
```
## **`Opinions on other matters prescribed by the Companies Act 2006`**
```
In our opinion, based on the work undertaken in the course of the audit:
```
- `the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and`
- `the Report of the Trustees has been prepared in accordance with applicable legal requirements.`
## **`Matters on which we are required to report by exception`**
```
Inthelightoftheknowledgeandunderstandingofthecharitablecompanyanditsenvironmentobtainedinthecourseof the
audit, we have not identified material misstatements in the Report of the Trustees.
```
```
WehavenothingtoreportinrespectofthefollowingmatterswheretheCompaniesAct2006requiresustoreporttoyouif, in
our opinion:
```
- `adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or`
- `the financial statements are not in agreement with the accounting records and returns; or`
- `certain disclosures of trustees' remuneration specified by law are not made; or`
- `we have not received all the information and explanations we require for our audit; or`
- `the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.`
```
Page 4
```
```
Report of the Independent Auditors to the Members of
North Huyton Communities Future
```
## **`Responsibilities of trustees`**
```
AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoarealsothedirectorsofthe charitable
companyfor the purposesof companylaw)are responsiblefor the preparationof the financialstatementsand for being satisfied
thattheygivea trueand fairview,and forsuchinternalcontrolas thetrusteesdetermineis necessaryto enablethe preparation
of financial statements that are free from material misstatement, whether due to fraud or error.
```
```
Inpreparingthefinancialstatements,thetrusteesare responsibleforassessingthecharitablecompany'sabilityto continueas a
goingconcern,disclosing,as applicable,mattersrelatedtogoingconcernandusingthegoingconcernbasisofaccounting unless
thetrusteeseitherintendtoliquidatethecharitablecompanyortoceaseoperations,orhavenorealisticalternativebutto do
so.
```
## **`Our responsibilities for the audit of the financial statements`**
```
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrom material
misstatement,whetherduetofraudorerror,andtoissueaReportoftheIndependentAuditorsthatincludesour opinion.
Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewithISAs (UK)
willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandare considered
materialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsof users
taken on the basis of these financial statements.
```
```
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
```
```
We assessedthesusceptibilityof thecompany'sfinancialstatementsto materialmisstatement,includinghowfraudmight occur.
Audit procedures performed by the company engagement team included:
```
- `Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;`
- `Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;`
- `Reviewing financial statements disclosures and testing to supporting documentation to assess compliance with applicable law and regulations;`
- `Challenging assumptions and judgements made by management in its significant accounting estimates, in particular: - Depreciation of fixed assets, valuation of property, accruals and defined benefit pension scheme obligations.`
```
DespitetheauditbeingplannedandconductedinaccordancewithISAs(UK)thereremainsanunavoidableriskthat material
misstatementsinthefinancialstatementsmay notbedetectedowingtoinherentlimitationsoftheaudit,andthatby their very
nature,any suchinstancesof fraudor irregularitylikelyinvolvecollusion,forgery,intentionalmisrepresentations,or the override
of internal controls.
```
```
AfurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedontheFinancial Reporting
Council'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReportofthe Independent
Auditors.
```
## **`Use of our report`**
```
Thisreportismadesolelytothecharitablecompany'smembers,asabody,inaccordancewithChapter3ofPart16of the
CompaniesAct2006.Ourauditworkhasbeenundertakensothatwemightstatetothecharitablecompany'smembers those
matterswe are requiredto stateto themin an auditors'reportand forno otherpurpose.Tothefullestextentpermittedby law,
wedonotacceptor assumeresponsibilitytoanyoneotherthanthecharitablecompanyandthecharitablecompany's members
as a body, for our audit work, for this report, or for the opinions we have formed.
```
```
Kate Taylor FCCA (Senior Statutory Auditor)
for and on behalf of Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ
```
```
Date: .............................................
```
```
Page 5
```
```
North Huyton Communities Future
```
## `Statement of Financial Activities`
```
for the Year Ended 31 March 2022
```
|`Unrestricted`
`fund`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`3`
**`1,082,482`**
**`Charitable activities`**
`5`
`Local Business Support Scheme`
**`-`**
`Investment income`
`4`
**`56,264`**
**`Total`**
**`1,138,746`**
**`EXPENDITURE ON`**
`Raising funds`
`6`
**`10,000`**
**`Charitable activities`**
`7`
`General charitable purpose`
**`323,672`**
**`Total`**
**`333,672`**
`Net gains/(losses) on investments`
**`(343,091)`**
**`NET INCOME/(EXPENDITURE)`**
**`461,983`**
**`Other recognised gains/(losses)`**
`Actuarial gains/(losses) on defined benefit schemes`
**`(236,000)`**
**`Net movement in funds`**
**`225,983`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`1,825,135`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`2,051,118`**|`Restricted`
`fund`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**|**`31.3.22`**
**`Total`**
**`funds`**
**`£`**
**`1,082,482`**
**`-`**
**`56,264`**
**`1,138,746`**
**`10,000`**
**`323,672`**
**`333,672`**
**`(343,091)`**
**`461,983`**
**`(236,000)`**
**`225,983`**
**`1,825,135`**
**`2,051,118`**|`31.3.21`
`Total`
`funds`
`£`
`43,230`
`45,479`
`64,926`|
|---|---|---|---|
||||`153,635`|
||||`-`
`502,165`|
||||`502,165`|
||||`311,017`|
||||`(37,513)`
`(129,000)`|
||||`(166,513)`
`1,991,648`|
||||`1,825,135`|
## **`CONTINUING OPERATIONS`**
```
All income and expenditure has arisen from continuing activities.
```
```
The statement of financial activities includes all gains and losses recognised in the year.
```
```
The notes form part of these financial statements
```
```
Page 6
```
```
North Huyton Communities Future
```
## `Balance Sheet`
## `31 March 2022`
|`Unrestricted`
`fund`
`Notes`
`£`
**`FIXED ASSETS`**
`Tangible assets`
`11`
**`-`**
`Investment property`
`12`
**`1,977,350`**
**`1,977,350`**
**`CURRENT ASSETS`**
`Debtors`
`13`
**`29,115`**
`Cash at bank and in hand`
**`455,118`**
**`484,233`**
**`CREDITORS`**
`Amounts falling due within one year`
`14`
**`(9,374)`**
**`NET CURRENT ASSETS`**
**`474,859`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`2,452,209`**
**`DEFINED BENEFIT PENSION SCHEME OBLIGATIONS`**
`16`
**`(401,091)`**
**`NET ASSETS`**
**`2,051,118`**
**`FUNDS`**
`15`
`Unrestricted funds`
**`TOTAL FUNDS`**|`Restricted`
`fund`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**|**`31.3.22`**
**`Total`**
**`funds`**
**`£`**
**`-`**
**`1,977,350`**
**`1,977,350`**
**`29,115`**
**`455,118`**
**`484,233`**
**`(9,374)`**
**`474,859`**
**`2,452,209`**
**`(401,091)`**
**`2,051,118`**
**`2,051,118`**
**`2,051,118`**|`31.3.21`
`Total`
`funds`
`£`
`-`
`1,919,350`|
|---|---|---|---|
||||`1,919,350`
`31,885`
`177,589`|
||||`209,474`
`(19,689)`|
||||`189,785`|
||||`2,109,135`
`(284,000)`|
||||`1,825,135`|
||||`1,825,135`|
||||`1,825,135`|
```
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitablecompaniessubject to
the small companies regime.
```
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon............................................. and
were signed on its behalf by:
```
```
.............................................
K W McGlashan - Trustee
```
```
The notes form part of these financial statements
```
```
Page 7
```
```
North Huyton Communities Future
```
```
Cash Flow Statement
for the Year Ended 31 March 2022
```
|`Notes`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`Interest paid`
`Net cash provided by/(used in) operating activities`
**`Cash flows from investing activities`**
`Sale of fixed asset investments`
`Sale of investment property`
`Net cash provided by investing activities`
**`Change in cash and cash equivalents in the`**
**`reporting period`**
**`Cash and cash equivalents at the beginning of`**
**`the reporting period`**
**`Cash and cash equivalents at the end of the`**
**`reporting period`**|**`31.3.22`**
**`£`**
**`277,529`**
**`-`**
**`277,529`**
**`-`**
**`-`**
**`-`**
**`277,529`**
**`177,589`**
**`455,118`**|`31.3.21`
`£`
`(447,877)`
`(3,000)`|
|---|---|---|
|||`(450,877)`|
|||`(13,149)`
`90,649`|
|||`77,500`|
||||
|||`(373,377)`
`550,966`|
|||`177,589`|
```
The notes form part of these financial statements
```
```
Page 8
```
```
North Huyton Communities Future
```
## `Notes to the Cash Flow Statement for the Year Ended 31 March 2022`
## **`1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES`**
|**`RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING`**|**`ACTIVITIES`**||
|---|---|---|
|**`Net income/(expenditure) for the reporting period (as per the Statement of`**
**`Financial Activities)`**
**`Adjustments for:`**
`Losses/(gain) on investments`
`Interest paid`
`Decrease/(increase) in debtors`
`Decrease in creditors`
`Difference between pension charge and cash contributions`
**`Net cash provided by/(used in) operations`**|**`31.3.22`**
**`£`**
**`461,983`**
**`343,091`**
**`-`**
**`2,770`**
**`(10,315)`**
**`(520,000)`**
**`277,529`**|`31.3.21`
`£`
`(37,513)`
`(311,017`
`3,000`
`(10,174`
`(2,173`
`(90,000)`|
|||`(447,877)`|
## `2.` **`ANALYSIS OF CHANGES IN NET FUNDS`**
||`At 1.4.21`|`Cash flow`|**`At 31.3.22`**|
|---|---|---|---|
||`£`|**`£`**|**`£`**|
|**`Net cash`**||||
|`Cash at bank and in hand`|**`177,589`**|**`277,529`**|**`455,118`**|
||**`177,589`**|**`277,529`**|**`455,118`**|
|**`Total`**|**`177,589`**|**`277,529`**|**`455,118`**|
```
The notes form part of these financial statements
```
```
Page 9
```
```
North Huyton Communities Future
```
```
Notes to the Financial Statements
```
```
for the Year Ended 31 March 2022
```
## **`1. COMPANY INFORMATION`**
```
NorthHuytonCommunitiesFuture("thecompany"isaprivatecompanylimitedbyguaranteeincorporatedin England
and Wales. The company's registered number and registered office can be found on the Report of the Trustees.
```
## **`2. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharitablecompany,whichisa publicbenefitentityunderFRS102,havebeen prepared
inaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statementof Recommended
Practiceapplicableto charitiespreparingtheiraccountsin accordancewiththe FinancialReportingStandardapplicable in
theUKandRepublicofIreland(FRS102)(effective1January2019)',FinancialReportingStandard102'The Financial
ReportingStandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements
have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
```
```
Thefinancialstatementsarepreparedinsterling,whichisthefunctionalcurrencyofthecharity.Monetaryamounts in
these financial statements are rounded to the nearest £.
```
```
ThecharityhastakenadvantageoftheprovisionsintheSORPforcharitiesapplyingFRS102UpdateBulletin1not to
prepare a Statement of Cash Flows.
```
## **`Going concern`**
```
Thetrusteeshaveconsideredthelikelylevelofincomeandexpenditurefortheforeseeablefuture.TheTrustees are
satisfiedthatthecharitycanmeetitsobligationsasandwhentheyfalldue.accordingly,thegoingconcernbasis of
preparation is appropriate for these financial statements.
```
## **`Critical accounting judgements and key sources of estimation uncertainty`**
## `Defined benefit pension scheme obligations`
```
ThepresentvalueoftheLocalGovernmentPensionSchemedefinedbenefitschemedependsonanumberof factors
thataredeterminedonanactuarialbasisusingavarietyofassumptions.Theassumptionsusedindeterminingthe net
costs(income)forpensionsincludethediscountrate.Anychangesinthisassumptionsdisclosedinnote15, will impact
thecarryingamountofthepensionliability.Furthermorea rollforwardapproachwhichprojectsresultsfromthe latest
fullactuarialvaluationperformedat31March2019hasbeenusedbytheactuaryinvaluingthepensionliabilityat 31
March2021.Anydifferencesbetweenthefiguresderivedfromtherollforwardapproachandafullactuarial valuation
would impact on the carrying amount of the pension liability.
```
## `Revaluation of investment properties`
```
Thecharitycarriesitsinvestmentpropertiesat fairvalue,withchangesin fairvaluebeingrecognisedin theStatement of
FinancialActivities.Thecharityusesexternalprofessionaladvisorstodeterminethefairvalue.Thecharity's investment
properties were revalued by the trustees at the balance sheet date in reference to the external valuation.
```
## **`Income`**
```
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
```
```
IncomefromGovernmentgrantscomprisesgrantsreceivedundertheLocalBusinessSupportScheme.Income from
governmentandothergrants,whether'capital'grantsor'revenue'grants,isrecognisedwhenthecompany has
entitlementtothefunds,anyperformanceconditionsattachedtothegrantshavebeenmet,itisprobablethat the
income will be received and the amount can be measured reliably and is not deferred.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthecharity to
thatexpenditure,it is probablethata transferof economicbenefitswillbe requiredin settlementand theamountof the
obligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthataggregateallcostrelatedto thecategory.Wherecostscannotbe directlyattributedto particular headings
theyhavebeenallocatedtoactivitiesona basisconsistentwiththeuseofresources.IrrecoverableVATischargedas a
cost against the activity for which the expenditure was incurred.
```
## **`Tangible fixed assets`**
```
Fixedassetsacquiredforthepurposeofmanagementandadministrationarecalculatedatcost,anddepreciation is
provided at the following rates, rates calculated to write off the cost of such assets over their expected useful lives.
```
```
Fixtures, fittings and office equipment20% straight line basis
```
```
continued...
```
```
Page 10
```
```
North Huyton Communities Future
```
```
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
```
## **`2. ACCOUNTING POLICIES - continued`**
## **`Investment property`**
```
Investmentpropertyis shownat mostrecentvaluation.Any aggregatesurplusor deficitarisingfrom changesin fair value
is recognised in the Statement of Financial Activities.
```
## **`Taxation`**
```
The charity is exempt from corporation tax on its charitable activities.
```
## **`Fund accounting`**
```
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.Restrictions arise
when specified by the donor or when funds are raised for particular restricted purposes.
```
## **`Pension costs and other post-retirement benefits`**
```
The company operates a defined benefit pension scheme.
```
## **`Legal status of the charity`**
```
TheCharityisa companylimitedbyguaranteeandhasnosharecapital.Intheeventofthecharitybeingwoundup, the
liability in respect of the guarantee is limited to £1 per member of the charity.
```
## **`Financial Instruments`**
```
Basicfinancialassets,whichincludeotherdebtors,areinitiallymeasuredattransactionpriceincludingtransaction costs
and are subsequentlycarriedat amortisedcostusingtheeffectiveinterestmethodunlessthearrangementconstitutes a
financingtransaction,wherethefinancialassetismeasuredatthepresentvalueofthefuturereceiptsdiscountedat a
market rate of interest.
```
```
Basicfinancialliabilities,includingothercreditorsandpensioncreditors,areinitiallyrecognisedattransaction price
unlessthearrangementconstitutesa financingtransaction,wherethedebitinstrumentis measuredat thepresent value
of the future payments discounted at a market rate of interest.
```
## **`3. DONATIONS AND LEGACIES`**
## **`4.`**
|`Revive income`
`Other income`
`Land receipts`
**`INVESTMENT INCOME`**
`Rents received`|**`31.3.22`**
**`£`**
**`31,369`**
**`1,113`**
**`1,050,000`**
**`1,082,482`**
**`31.3.22`**
**`£`**
**`56,264`**|`31.3.21`
`£`
`41,727`
`1,503`
`-`|
|---|---|---|
|||`43,230`|
|||`31.3.21`
`£`
`64,926`|
```
continued...
```
```
Page 11
```
```
North Huyton Communities Future
```
## `Notes to the Financial Statements - continued`
```
for the Year Ended 31 March 2022
```
## **`5. INCOME FROM CHARITABLE ACTIVITIES`**
|`Activity`
`Grants`
`Local Business Support Scheme`
**`6.`**
**`RAISING FUNDS`**
**`Other trading activities`**
`Bad debts`
**`7.`**
**`CHARITABLE ACTIVITIES COSTS`**
`General charitable purpose`|**`31.3.22`**
`31.3.21`
**`£`**
`£`
**`-`**
`45,479`
**`31.3.22`**
`31.3.21`
**`£`**
`£`
**`10,000`**
`-`
`Direct`
`Costs`
`£`
**`323,672`**|`31.3.21`
`£`
`45,479`|
|---|---|---|
|||`31.3.21`
`£`
`-`|
```
Charitableactivitiesincludesauditservicesof£8,115andallothernon-auditservicesof£2,710payabletothe charity
auditor.
```
## **`8. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2022norfortheyear ended
31 March 2021.
```
## **`Trustees' expenses`**
```
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
```
## **`9. STAFF COSTS`**
|**`31.3.22`**
**`£`**
`Wages and salaries`
**`36,376`**
`Other pension costs`
**`-`**
**`36,376`**
`The average monthly number of employees during the year was as follows:`
**`31.3.22`**
`Average monthly number of employees`
**`1`**
`The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:`
**`31.3.22`**
`£80,001 - £90,000`
**`-`**||`31.3.21`
`£`
`156,804`
`27,782`|
|---|---|---|
|||`184,586`|
|||`31.3.21`
`4`
`31.3.21`
`1`|
```
continued...
```
```
Page 12
```
```
North Huyton Communities Future
```
## `Notes to the Financial Statements - continued for the Year Ended 31 March 2022`
|**`10.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
`Unrestricted`
`fund`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`43,230`
**`Charitable activities`**
`Local Business Support Scheme`
`45,479`
`Investment income`
`64,926`
**`Total`**
`153,635`
**`EXPENDITURE ON`**
**`Charitable activities`**
`General charitable purpose`
`502,165`
`Net gains on investments`
`311,017`
**`NET INCOME/(EXPENDITURE)`**
`(37,513)`
**`Other recognised gains/(losses)`**
`Actuarial gains/(losses) on defined benefit`
`schemes`
`(129,000)`
**`Net movement in funds`**
`(166,513)`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`1,991,648`
**`TOTAL FUNDS CARRIED FORWARD`**
`1,825,135`
**`11.`**
**`TANGIBLE FIXED ASSETS`**
**`COST`**
`At 1 April 2021 and 31 March 2022`
**`DEPRECIATION`**
`At 1 April 2021 and 31 March 2022`
**`NET BOOK VALUE`**
`At 31 March 2022`
`At 31 March 2021`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`Total`
`funds`
`£`
`43,230`
`45,479`
`64,926`|`Total`
`funds`
`£`
`43,230`
`45,479`
`64,926`|
|---|---|---|---|
|||`153,635`||
|||`502,165`||
|||`311,017`||
|||`(37,513)`
`(129,000)`||
|||`(166,513)`
`1,991,648`||
|||`1,825,135`||
||||`Fixtures`
`and`
`fittings`
`£`
**`32,040`**
**`32,040`**
**`-`**
`-`|
```
continued...
```
```
Page 13
```
```
North Huyton Communities Future
```
```
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
```
|**`12.`**
**`INVESTMENT PROPERTY`**
**`FAIR VALUE`**
`At 1 April 2021`
`Revaluation`
`At 31 March 2022`
**`NET BOOK VALUE`**
`At 31 March 2022`
`At 31 March 2021`
`Fair value at 31 March 2022 is represented by:`
`Valuation in 2018`
`Valuation in 2021`
`Valuation in 2022`
`Cost`|**`£`**
**`1,919,350`**
**`58,000`**|
|---|---|
||**`1,977,350`**|
||**`1,977,350`**|
||`1,919,350`|
||**`£`**
**`(1,208,952)`**
**`324,166`**
**`58,000`**
**`2,804,136`**|
||**`1,977,350`**|
```
If investment property has not been revalued it would have been included at the historical cost of
```
```
£2,804,136.InvestmentpropertywasvaluedonanopenmarketbasisinOctober2020byBryanGaskill Properties
Limited.
```
## **`13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|**`13.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||||
|---|---|---|---|---|
|`Other debtors`
**`14.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Social security and other taxes`
`Other creditors`
`Pension creditor`
`Accrued expenses`
**`15.`**
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.4.21`
`£`
**`1,825,135`**
**`1,825,135`**|**`31.3.22`**
**`£`**
**`29,115`**
**`31.3.22`**
**`£`**
**`1,013`**
**`1,550`**
**`211`**
**`6,600`**
**`9,374`**
`Net`
`movement`
`in funds`
`£`
**`225,983`**
**`225,983`**|`31.3.21`
`£`
`31,885`
`31.3.21`
`£`
`6,242`
`1,550`
`2,897`
`9,000`
`19,689`
`At 31.3.22`
`£`
**`2,051,118`**|`31.3.21`
`£`
`31,885`|
|||||`31.3.21`
`£`
`6,242`
`1,550`
`2,897`
`9,000`|
|||||`19,689`|
||||**`2,051,118`**||
```
continued...
```
```
Page 14
```
```
North Huyton Communities Future
```
```
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
```
## **`15. MOVEMENT IN FUNDS - continued`**
```
Net movement in funds, included in the above are as follows:
```
|`Incoming`
`Resources`
`resources`
`expended`
`£`
`£`
**`Unrestricted funds`**
`General fund`
**`1,138,746`**
**`(333,672)`**
**`TOTAL FUNDS`**
**`1,138,746`**
**`(333,672)`**
**`Comparatives for movement in funds`**
`At 1.4.20`
`£`
**`Unrestricted funds`**
`General fund`
`1,991,648`
**`TOTAL FUNDS`**
`1,991,648`
`Comparative net movement in funds, included in the above are as follows:`
`Incoming`
`Resources`
`resources`
`expended`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`153,635`
`(502,165)`
**`TOTAL FUNDS`**
`153,635`
`(502,165)`|`Gains and`
`losses`
`£`
**`(579,091)`**
**`(579,091)`**
`Net`
`movement`
`in funds`
`£`
`(166,513)`
`(166,513)`
`Gains and`
`losses`
`£`
`182,017`
`182,017`|`Movement`
`in funds`
`£`
**`225,983`**|`Movement`
`in funds`
`£`
**`225,983`**|
|---|---|---|---|
|||**`225,983`**||
|||`At 31.3.21`
`£`
`1,825,135`||
|||`1,825,135`||
|||`Movement`
`in funds`
`£`
`(166,513)`
`(166,513)`||
||||`(166,513)`|
```
A current year 12 months and prior year 12 months combined position is as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.4.20`
`£`
`1,991,648`
`1,991,648`|`Net`
`movement`
`in funds`
`£`
`59,470`
`59,470`|`At 31.3.22`
`£`
`2,051,118`|
|---|---|---|---|
||||`2,051,118`|
```
continued...
```
```
Page 15
```
```
North Huyton Communities Future
```
```
Notes to the Financial Statements - continued
```
```
for the Year Ended 31 March 2022
```
## **`15. MOVEMENT IN FUNDS - continued`**
```
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedintheaboveare as
follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`1,292,381`
`1,292,381`|`Resources`
`expended`
`£`
`(835,837)`
`(835,837)`|`Gains and`
`losses`
`£`
`(397,074)`
`(397,074)`|`Movement`
`in funds`
`£`
`59,470`|
|---|---|---|---|---|
|||||`59,470`|
## **`16. EMPLOYEE BENEFIT OBLIGATIONS`**
```
ThecompanyparticipatedintheMerseysidePensionFundwhichisamulti-employerschemeandispartofthe Local
GovernmentPensionSchemeinEnglandandWales.Thisisadefinedbenefitpensionschemeforqualifying employes
andthebenefitsweresetinlinewithLocalGovernmentPensionSchemeRegulations.Benefitsvarieddependingon the
employee's joining date and length of participation in the Fund.
```
```
Thepensioncostandprovisionfortheyearended31stMarch2022 are basedon theadviceofa professionally qualified
actuary.Themostrecentactuarialvaluationisdated31stMarch2019whichhasbeenupdatedtoreflectthe conditions
at the balance sheet date.
```
```
Thecompanymadeacontributionof£520,000underpart64(5)oftheLGPSregulationstoexitthepensionscheme in
March 2022.
```
||**`2022`**|`2021`|
|---|---|---|
|**`The major assumptions used by the actuary were:`**|**`%`**|`%`|
|`CPI Inflation/care benefits revaluation`|**`-`**|`2.7`|
|`Increase in salaries`|**`-`**|`4.2`|
|`Increase in pensions in payment`|**`-`**|`2.8`|
|`Discount rate`|**`-`**|`2.1`|
|**`Mortality assumptions:`**|**`2022`**|`2021`|
||**`Years`**|`Years`|
|`Retiring today`|||
|`Males`|**`-`**|`21.0`|
|`Females`|**`-`**|`24.1`|
|`Retiring in 20 years`|||
|`Males`|**`-`**|`22.6`|
|`Females`|**`-`**|`26.0`|
||**`2022`**|`2021`|
|**`Analysis of amount charged to operating profit:`**|**`£000s`**|`£000s`|
|`Current service cost`|**`-`**|`25`|
|`Net interest cost`|**`-`**|`3`|
|`Past service cost`|**`-`**|`-`|
|`Total cost recognised in operating profit`|**`-`**|`28`|
||**`2022`**|`2021`|
|**`Analysis of amount charged to other recognised gains/(losses)`**|**`£000s`**|`£000s`|
|`Actual return on plan assets`|**`.`**|`(244)`|
|`Less: calculated interest element`|**`.`**|`43`|
|`Return on scheme assets excluding interest income`|**`.`**|`(201)`|
|`Actuarial changes related to obligations`|**`.`**|`330`|
```
continued...
```
```
Page 16
```
```
North Huyton Communities Future
```
```
Notes to the Financial Statements - continued
for the Year Ended 31 March 2022
```
## **`16. EMPLOYEE BENEFIT OBLIGATIONS - continued`**
```
Total (gains)/losses
```
```
.129
```
```
Theamountsincludedinthebalancesheetarisingfromthecompany'sobligationsinrespectondefinedbenefit plans
are as follows:
```
|**`2022`**|`2021`
`£000s`
`2,368`
`2,084`
`284`
**`2022`**
**`£000s`**
**`2,368`**
**`(2,368)`**
`-`|
|---|---|
|**`£000s`**||
|||
|`Present value of defined benefit obligations`
**`-`**||
|`Fair value of plan assets`
**`-`**||
|`Deficit in scheme`
**`-`**||
|||
|`Movements in the present value of defined benefit obligations`||
|||
|||
|`Liabilities at 1 April 2021`||
|`Deficit Funding`||
|||
|`Liabilities at 31 March 2022`||
|||
|`Movements in the fair value of plan assets`|**`2022`**|
||**`£000s`**|
|||
|`Fair value of assets at 1 April 2021`|**`2,084`**|
|`Settlement`|**`520`**|
|`Deficit Funding`|**`(2,604)`**|
|||
|`Fair value of assets at 31 March 2022`|**`-`**|
||`2021`
`£000s`
`832`
`58`
`556`
`142`
`115`
`331`
`2,084`|
|||
|**`2022`**||
|**`The fair value of plan assets are as follows:`**
**`£000s`**||
|||
|`Equities`
**`-`**||
|`Government bonds`
**`-`**||
|`Other bonds`
**`-`**||
|`Property`
**`-`**||
|`Cash/liquidity`
**`-`**||
|`Other`
**`-`**||
|`Fair value of plan assets at the end of the period`
**`-`**||
|||
```
continued...
```
```
Page 17
```
```
North Huyton Communities Future
```
```
Notes to the Financial Statements - continued
```
```
for the Year Ended 31 March 2022
```
## **`17. OTHER FINANCIAL COMMITMENTS`**
```
A charge over the land at Seel Road, Huyton is held by Knowsley Metropolitan Borough Council dated 13 December 2012.
```
## **`18. RELATED PARTY DISCLOSURES`**
```
There were no related party transactions for the year ended 31 March 2022.
```
```
Page 18
```
```
North Huyton Communities Future
```
```
Detailed Statement of Financial Activities
for the Year Ended 31 March 2022
```
|`Detailed Statement of Financial Activities`
`for the Year Ended 31 March 2022`|||
|---|---|---|
||`31.3.22`|`31.3.21`|
||`£`|`£`|
|**`INCOME AND ENDOWMENTS`**|||
|**`Donations and legacies`**|||
|`Revive income`|**`31,369`**|`41,727`|
|`Other income`|**`1,113`**|`1,503`|
|`Land receipts`|**`1,050,000`**|`-`|
||**`1,082,482`**|`43,230`|
|**`Investment income`**|||
|`Rents received`|**`56,264`**|`64,926`|
|**`Charitable activities`**|||
|`Grants`|**`-`**|`45,479`|
|**`Total incoming resources`**|**`1,138,746`**|`153,635`|
|**`EXPENDITURE`**|||
|**`Other trading activities`**|||
|`Bad debts`|**`10,000`**|`-`|
|**`Charitable activities`**|||
|`Wages`|**`36,376`**|`156,804`|
|`Pensions`|**`-`**|`27,782`|
|`Insurance`|**`11,084`**|`14,573`|
|`Telephone`|**`4,356`**|`936`|
|`Postage and stationery`|**`2,803`**|`501`|
|`Community participation`|**`16,435`**|`75,573`|
|`Thematics`|**`69,314`**|`78,288`|
|`Community Anchor Grants`|**`100,000`**|`80,000`|
|`Community Building Grants`|**`39,947`**|`49,782`|
|`Other miscellaneous expenses`|**`3,437`**|`3,280`|
|`Contingency (Park)`|**`456`**|`-`|
|`Finance administration costs`|**`254`**|`821`|
|`Audit and accountancy`|**`5,040`**|`10,825`|
|`Legal & Professional fees`|**`34,170`**|`-`|
|`Interest payable`|**`-`**|`3,000`|
||**`323,672`**|`502,165`|
|`Total resources expended`|**`333,672`**|`502,165`|
|**`Net income/(expenditure) before gains and losses`**|**`805,074`**|`(348,530)`|
|**`Realised recognised gains and losses`**|||
|`Realised Gains/losses on investment properties`|**`-`**|`(13,149)`|
|**`Net income/(expenditure)`**|**`805,074`**|`(361,679)`|
```
This page does not form part of the statutory financial statements
```
```
Page 19
```